Tiger Expert Advisor For MT4

Tiger Expert Advisor For MT4



PLEASE NOTE: This expert advisor was publicly available for free usage on other websites and is not programmed by us. We explain the functionality and possible improvements of the EA. Furthermore, we are convinced that fully automatic Expert Advisors will fail in the long run. On the other hand, our semi-automatic approach with detecting the best setups and then activating our Expert Advisors (e.g. V-Power EA, EdgeZone EA) produced many successful traders and some of them even got prop traders at prop trading firms. Therefore, we added a similar semi-automatic trading feature (to allow only buy or only sell trades) to the free Expert Advisors. You can download the modified version here and enjoy!


Table Of Contents:

  1. Tiger Expert Advisor For MT4
  2. The Tiger Expert Advisor for MT4 – Parameters
  3. The Tiger Expert Advisor for MT4 – Entry Criteria
  4. The Tiger Expert Advisor for MT4 – Exit Criteria
  5. The Tiger Expert Advisor for MT4 – Room for Improvement


The Tiger Expert Advisor For MT4 is founded on sound, yet basic, trading principles. The primary trading concept is to trade with the trend using moving averages. To filter bad signals, an indicator that measures market momentum is added to the mix. To qualify trades further, a technical tool that checks if the market is not overbought or oversold is used. All these indicators are applied to the current timeframe of the traded instrument, and values are obtained from the current open candle.

While the logic of the trading system makes sense, the expert advisor failed to deliver results in back testing. In fact, testing ended in wipeout of the trading account in all test runs. Test reports showed a high win rate of more than 97 percent in all samples. Each test concluded with a single losing trade that ate all profits gained and wiped even the capital. At this point, it is not a good idea to use the trading system in live trading.


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The Tiger Expert Advisor for MT4 – Parameters

The Tiger Expert Advisor checks on each tick if a new candle has formed. If that is the case, it starts the trade search. No further checks are performed to determine the correctness of inputs, the existence of enough account balance, and more. By its design, possibly due to coding oversight, this expert advisor cannot be implemented in symbols with two, three or four digits. At this time, it opens trades only in symbols whose prices are expressed in five digits.

A few parameters are provided in inputs that the user can adjust as necessary when the robot is first dropped on the chart. Most of these parameters are self-explanatory. They are made available in inputs to allow the user to explore the combination of settings that yields profits. These parameters are listed and explained below:



    • LotFactor = 2 – This variable is divided to an arbitrary number corresponding to the account balance to determine the trade lot size.


    • StopLoss = 5000 – Each trade has a stop loss of 5,000 points, or 500 pips.


    • TakeProfit = 70 – Each trade has a take profit of 70 points, or 7 pips.


    • MagicNumber = 1234 – Each trade is associated with this unique number to make trade identification and management possible.


    • adxthreshold = 27 – This is the minimum ADX value required by the expert advisor to start looking for entries.


    • adxperiod = 14 – The ADX indicator used in this trading system has a period of 14.


    • rsiperiod = 14 – The RSI indicator used in this trading system has a period of 14.


    • rsiupper = 65 – The underlying asset is considered overbought if the RSI reaches this level.


    • rsilower = 35 – The underlying asset is considered oversold if the RSI reaches this level.


    • FastMA = 21 – A fast-moving average with a period of 21 is used to determine the market trend.


    • SlowMA = 89 – A slow-moving average with a period of 89 is used to detect the current trend.



The Tiger Expert Advisor for MT4 – Entry Criteria


The trading system makes use of three types of technical indicators to determine the market direction and momentum. How these indicators are used to generate a trade signal is explained in the list below:



    • Moving average combination (periods 21 and 89, mode exponential, price close) – The expert advisor obtains the values of two moving averages to determine the current trend. The EMA values are computed from the current candle of the current symbol and period. If 21 EMA is greater than 89 EMA, the underlying asset is in an uptrend. If the 21 EMA is less than 89 EMA, the underlying asset is in a downtrend.


    • Average directional movement index (period 14, price close, mode main) – The robot calculates the value of the ADX for the current candle on the active symbol and period to determine if market momentum is strong enough to consider an entry. If the ADX value is greater than 27, the robot looks for a trade opportunity.


    • Relative strength index (period 14, price close) – The expert advisor computes the value of the RSI to find out if the underlying market has the strength to continue the current trend. If the RSI for the current candle of the current instrument and timeframe is greater than 35 and less than 65, this is considered as a tradable condition. Said another way, the market is not yet overbought or oversold.


If the trading account has no open order yet and if the technical indicators have generated and confirmed a trade signal, a buy or sell trade is opened with a lot size determined by the expert advisor. The lot size is obtained by dividing an arbitrary number with the lot factor set in inputs. This arbitrary number is proportional to the existing account balance. See image above. The trade lot size may vary from one trade to another depending on the balance.

Upon entry, a stop loss of 500 pips and a take profit of 7 pips are set in place. The user may set different values as he deems necessary. With the default settings, the robot is expected to generate small but consistent profits. Therefore, the program is considered a scalping trading system. It attempts to avoid losses and survive large drawdowns until the market moves to the intended direction.


The Tiger Expert Advisor for MT4 – Exit Criteria


The Tiger Expert Advisor uses the stop loss and take profit set upon trade execution to close open orders. This is regarded as a passive trade management approach. After the robot has initiated a market order with both stop loss and take profit, never does it touch the trade at any other time later. The robot opens one trade at a time. If the trade goes in favor of the trader, it is quickly decided by the market, but if the trade goes wrong, it can be left open for days or weeks.


The Tiger Expert Advisor for MT4 – Room for Improvement

The Tiger Expert Advisor appears to be developed by a newbie programmer when one looks at the code. This is obvious when the manner of computing the lot size is considered. The manual assignment of lot size to a specific account balance is not only a waste of code space but also leads to an unsound result. To make the lot size calculation dynamic regardless of the account balance, each trade volume could be based on a certain percentage of the account. With this method, the lot size adjusts by the growth or reduction of the capital depending on trading performance.

In addition, the trading system wastes computer resources by calling functions in the start function that are not being used in the trading operation. As shown in the image above, the algorithm calls three functions that serve no purpose. When control passes through the buyorsell() function, the three functions are called again to obtain values needed in generating a trade signal. These three lines of code can be easily removed in the start function without causing problems to the trading system.

The code contains one major error that can affect its ability to take trades depending on the symbol or trading account type. A variable called pips is declared in the global area and is equated to 0.00001. As a result, this expert advisor can only be used to trade symbols whose price quotes are given in five digits. Therefore, it is not possible to use this robot in trading yen pairs. Expectedly, the robot cannot be applied to two-digit or four-digit trading accounts.



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I'm Mike Semlitsch the owner of PerfectTrendSystem.com. My trading career started in 2007. Since 2013 I have helped thousands of traders to take their trading to the next level. Many of them are now constantly profitable traders. 

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